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Fall into the trap of liquidity trap margin awkwardness-winlinez

Fall into the trap of liquidity trap awkwardness marginalized fund Sina exposure platform: the letter Phi lag behind false propaganda, the performance of long-term lower than similar products, how to buy funds pit? Click [I want to complain], Sina help you expose them! The reporter intern reporter Ren Fei recently, grading fund trading volume shrinking, some products fall into the liquidity trap, coupled with the regulators to suspend the registration of new products, grading fund is one disaster after another day. How to change the development of the future level of the fund, and even if it is necessary to survive, causing widespread concern in the industry. Embarrassment highlights as of August 30th, the Shanghai Composite Index fell this year to 13.12%. However, a large number of B shares of the fund’s share of the fund is significantly underperformed the market. For example, pharmaceutical B, real estate B, TMTB net loss of 27.33% units this year, respectively, 36.79%, 27.05%. Gao Ganggan brings high risk, in the absence of high yield support weak cycle, classification of B high risk and high cost exposed more thoroughly, the grading fund intensified under the weak market "Matthew effect". Recently, there is a "mini" grading fund staged roller coaster market in two, August 15th to 19 consecutive rose 38.64%, but in August 22nd and 23, two consecutive limit, 24, and fell 4.36%. August 15th to 19, the unit net value of the fund rose only 7.85%, the price rose to make a significant increase in its premium, in August 19th, the fund’s premium of up to 25.65%. It is worth noting that the fund rose 5 consecutive trading days, the daily turnover of not more than $550 thousand. In this regard, insiders said, grading fund most marginalized by the market when the market is weak, generally there is liquidity risk Mini fund classification. Wind data show that as of August 30th, in the 133 equity funds in the classification of 38 less than the total net assets of 100 million yuan, net assets of only 87 in total 500 million yuan, only 11 of the net assets of the fund more than 5 billion yuan in total. Fund semi annual report shows that the relevant high volatility, with leveraged fund products have become the world’s retail. In the first half of a large index classification fund holder structure, B share of 87.25% for individual investors. Judging from the development process of the classification fund, the scale of the change depends largely on the rise and fall of the market. The specific performance in the bull market grading fund market demand is strong, the scale is rising rapidly; during the period of market volatility down, fund companies have a strong willingness to product layout, but the market demand is weak, the average size of grading fund fell. Bull market in the first half of 2015, some of the pursuit of high elasticity of the industry index grading fund began to scale blowout". But starting in August last year, the risk of grading funds continue to be exposed, the formation of a negative feedback loop for its development, more than only the scale of the fund into a serious shrink, lack of liquidity predicament. According to statistics, at present nearly 42% of the B fund field memory capacity of less than 50 million copies, the amount of memory in the field of the following 10 million categories of B funds accounted for 20%. The liquidity shortage theory相关的主题文章：